BUSINESS NEWS | GHANA AND BEYOND 🌍 16/07/2020
🚩The national year-on-year inflation rate was 11.2% in June 2020, which is 0.1 percentage points lower than last month, the Ghana Statistical Service (GSS), has announced. Month-on-month inflation between May 2020 and June 2020 was 1%. This is lower than the 1.7% recorded between April and May and 3.2% between March and April 2020, but higher than the average month-on-month inflation recorded in the months October 2019 to March 2020 (0.7%). Only two of the thirteen Divisions had higher than average inflation rates; Housing, Water, Electricity and Gas (21.3%) and Food and Non-Alcoholic Beverages (13.8%). At the regional level, the overall year-on-year inflation ranged from 4.3% in the Upper West Region and Volta Region to 15.0% in Greater Accra.
🚩Parliament has approved the waiver of taxes to the Ghana Space Science and Technology Institute (GSSTI) to the tune of ZAR4,907,555.00 (South African Rands) for the purchase of equipment, tools and hardware for the Ghana Radio Astronomy Project and Co-location of the Satellite Earth Observation Ground Receiving Station at Kuntunse. The Radio Telescope, the biggest single dish in Africa, will become part of the global Very Long Baseline Interferometry (VLBI) Network of telescopes jointly undertaking scientific research. It will also be used for single dish astronomy, becoming both a research and training facility for students, scientists and engineers in Ghana and the sub-region.
🚩The Council of the Ghana Stock Exchange has appointed Ms. Abena Amoah as the Deputy Managing Director of the Exchange. She will be responsible for the operational activities of the Exchange, namely, Trading and Surveillance, Listings and New Products, the Ghana Fixed Income Market and the IT systems of the Exchange. A statement from the Exchange said she would assist the Managing Director in defining and implementing the Exchange’s corporate strategies and plans, among other responsibilities. “Ms. Amoah is an accomplished investment banker and capital markets expert who has led on many landmark transactions for more than 20 years,” it said. “Abena’s experience covers stock market listings and trading, mergers and acquisitions advisory, investment research, asset management, private placement of equity, debt and hybrid instruments, large infrastructure project development, business start-ups and incubation, public education on investment and financial matters, and capital markets development strategies, across diverse sectors of the Ghanaian environment”.
🚩South Africa’s inflation rate dropped below the central bank’s target range for the first time in 15 year in May due to lower fuel prices. Consumer prices rose 2.1% from a year earlier compared with 3% in April, the Pretoria-based Statistics South Africa said Wednesday in a statement on its website. That’s the lowest since September 2004. The median estimate of 15 economists in a Bloomberg survey was 2.2%. Prices fell 0.6% in the month, the biggest drop since November 2003. The slowdown was driven by a decrease in the fuel price in May. The cost of gasoline was 27% lower than a year earlier. Higher food costs added to the headline number, with price growth accelerating to 4.8% from 4.6%.
➖➖➖➖➖➖➖➖➖
Secure your Tomorrow with MY OWN PENSION on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial *170#, select Option 5 (Financial Services) and select Option 4 (Pensions and Investments) to Begin
➖➖➖➖➖➖➖➖➖
The Investingh team put together a Financial Planning Template to help you plan your budget, retirement, child’s fees, weddings, buying a car, land acquisition etc. Follow this link to download: http://eepurl.com/gb8arv
➖➖➖➖➖➖➖➖➖
✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6682 Sell 5.6738
GB£GH¢ Buy 7.1402 Sell 7.1479
CAD$GH¢ Buy 4.1903 Sell 4.1935
JP¥GH¢ Buy 0.0530 Sell 0.0531
ZARGH¢ Buy 0.3420 Sell 0.3423
EU€GH¢ Buy 6.4734 Sell 6.4775
CHN¥GH¢ Buy 0.8122 Sell 0.8124
GH¢CFA Buy 101.2670 Sell 101.3311
GH¢NG₦ Buy 67.0958 Sell 67.1839
CRYPTOCURRENCY MARKET
Bitcoin $9,185.00 🔻-0.67%
Ethereum $238.07 🔻-1.03%
Tether $0.998236 🔻-0.09%
Ripple $0.198186 🔻-1.10%
Bitcoin Cash $227.06 🔻-1.03%
Binance Coin $18.19 🔻-3.86%
Litecoin $43.84 🔻-1.69%
EOS $2.55 🔻-2.41%
Cardano $0.123213 🔻-2.22%
Stellar $0.093963 🔻-2.46%
💵Bloomberg USDGHS Cross Rate – 5.7495
🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
No gainers for today
🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today
〽Inflation rate in Ghana ➡ 11.20% (-0.88%)
🏦Ghana Reference Rate ➡ 14.75% (-0.34%)
✳Policy Rate in Ghana ➡ 14.50% (-9.38%)
¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 13.5162% Interest Rate 13.9889%
182 – Day Discount Rate 13.1019% Interest Rate 14.0204%
364 – Day Discount Rate 14.4685% Interest Rate 16.9160%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.7500%
3 Year Bond Interest Rate 19.5000%
5 Year Bond Interest Rate 19.2500%
6 Year Bond Interest Rate 21.0000%
10 Year Bond Interest Rate 19.8000%
20 Year Fixed Rate Bond 20.2000%
🐂GHANA GOV’T EUROBOND RATES 🏦
7 Year Bond Coupon Rate 7.8750%
12 Year Bond Coupon Rate 8.1250%
31 Year Bond Coupon Rate 8.9500%
🛢Average Petrol & Diesel Price Per Litre – Gh¢4.85 (🔼+4.30%)
GSE 2020 GAINERS ➖ YTD% ➖ PRICE
SIC +25.00% ➡Gh¢0.10
CMLT +22.22% ➡Gh¢0.11
ALW +10.00% ➡Gh¢0.11
DASPHARMA +2.56% ➡Gh¢0.40
🔻GSE 2020 LOSERS ➖ YTD% ➖ PRICE
FML -57.52% ➡Gh¢1.75
GGBL -28.99% ➡Gh¢1.20
RBGH -28.57% ➡Gh¢0.40
CAL -26.97% ➡Gh¢0.65
GCB -26.67% ➡Gh¢3.74
🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 26,870.10 +227.51 +0.85%
*S&P 500 🏦 10,550.49 +61.92 +0.59%
*Nasdaq Index📲💻 3,226.56 +29.04 +0.91%
- NYSE Composite Index 12,391.32 +187.11 +1.53%
*London FTSE 100 6,292.65 +112.90 +1.83%
*Germany DAX 12,930.98 +233.62 +1.84%
*Japan NIKKEI 225 22,945.50 +358.49 +1.59%
*Hong Kong HANG SENG 25,481.58 +3.69 +0.01%
*Shanghai Shenzhen 300 4,744.47 -62.22 -1.29%
*S&P/ASX 200 Index 6,052.92 +111.84 +1.88%
*Bloomsberg EU 500 247.53 +3.98 +1.63%
*FTSE/JSE South Africa Top40 51,606.70 +371.61 +0.73%
*Nairobi SE 20 Share 1,913.57 +19.92 +1.05%
*Nigeria SE Main-Board Index 24,132.30 +14.90 +0.06%
*GSE Composite Index 1881.45 0.00 (0.00%)
*GSE Financial Index 1735.76 0.00 (0.00%)
GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,881.45 🔻-16.64%
*GSE Financial Index 1,735.76 🔻-14.06%
💧MUTUAL FUNDS IN GHANA♣️
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-4.56%
EPAcK 🔻-17.08%
Republic Equity 🔻-2.43%
SAS Fortune 🔻-3.42%
⚖BALANCED FUNDS ⏸YTD%
Bfund 🔻-1.04%
CCMF 🔼+8.60%
CM Fund 🔼+7.04%
Dalex Vision 🔼+7.14%
EDC Balanced 🔻-6.05%
Kiddifund 🔼+0.30%
Fidelity Balanced Trust 🔼+2.60%
EdiFund T2 🔼+2.74%
Plus Balanced Fund 🔼+6.59%
Republic F Plan 🔼+0.06%
UMB Balanced 🔼+4.45%
⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+8.09%
Fidelity Fixed Income Trust 🔼+8.81%
Fixed Income Alpha Plus 🔼+11.52%
Plus Income Fund 🔼+8.84%
SEM Income 🔼+8.20%
STANLIB Income 🔼+9.39%
🏦MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+7.88%
Mfund 🔼+8.63%
Republic Unit 🔼+5.55%
SEM MoneyPlus 🔼+7.17%
STANLIB Cash 🔼+8.79%
✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $43.79 +0.89 +2.07%
*Natural Gas 🏭 $/million BTUS $1.78 +0.01 +0.34%
*Gold 👑 $/troy ounce $1,813.50 -0.30 -0.02%
*Silver 💍 $/troy ounce $19.85 +0.09 +0.45%
*Corn 🌽 $/bushel $326.25 +0.25 +0.08%
*Cocoa 🍫 $/metric ton $2,135.00 -20.00 -0.93%
*Coffee ☕ ¢/pound $97.20 -0.75 -0.77%
*Sugar🎂 ¢/pound $11.82 +0.50 +4.42%
Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline.
Compiled By:
Prince Henry Danquah
Bora Capital Advisors Ltd.
+233(0)50-002-3155